Will I have two loans to repay?

If I drop out of university and come back after a year, will I have two loans to repay?

So basically I’m not sure about my chosen course anymore. Before I started I thought it would be the right decision for me, but now that I’ve taken it into consideration, I realised it’s gonna be a difficult and stressful job for me with a rough work - life balance. I don’t wanna have that career anymore. It’s my first year, I’m grateful that I made that decision now instead of changing my mind in my last year when there was probably not much I could’ve done about it.

So, I was wondering, how is this process going to be? I don’t wanna give up on university completely, however I wanna spend time thinking very very carefully about my course this time. I don’t wanna make the same mistake. So my current course finishes in November. The thing is, I don’t wanna rush my decision and I will take some time off studying to decide what I wanna study and do my research thoroughly. So there will likely be a gap from the moment I withdraw to when I start again, probably a year. My question is, does that mean I will have two loans to pay? When I withdraw now, is that loan gonna be separate from the loan I’m gonna make when I start the new course? Like, will they be considered as two separate loans or will they be merged into one?

Reply 1

Stephen SLC

Official Rep

Hi there, the loans would be classed under one loan and this would have one total balance. If you withdraw prior to the course year ending, there may be an overpayment, however if you see the remainder of the year through, you should be ok. The only time that you would have two separate loans would be Undergraduate and Postgraduate Masters, as these are two different types of loans. Thanks, Stephen.

Quick Reply

Latest

Trending

Articles for you

How do students cover the cost of going to university?

Try out the app

Continue on web

Will I have two loans to repay?

Quick Reply

Related discussions

Articles for you